Phoenix Solar AG completes entry into the United States solar electricity market

- Subsidiary headquartered in the high-growth solar market of the State of California
- Experienced energy industry leaders take key positions in the US subsidiary


Sulzemoos - Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the German TecDAX, today announced the incorporation of a wholly-owned subsidiary under United States law and the location of its Americas headquarters in the high-growth solar market of the State of California. Phoenix Solar Systems Inc. is headquartered in Northern California at the Bishop Ranch Business Park located in San Ramon, near San Francisco. The office is expected to be fully operational as from 1 September 2010.

The wholly-owned California-based subsidiary will build up its operations on the platform of Phoenix Solar AG\'s proven engineering, supply chain, construction, commissioning and operations and maintenance competencies with a view to offering large-scale photovoltaic power plant solutions to commercial and larger-scale project developers, independent power producers and utility customers. The company has plans to expand swiftly into other high-growth and high potential markets in the USA, especially targeting East coast and Southwest States.

Mr. Paul J. Caudill has been appointed by the Phoenix Solar AG Executive Board as Chief Executive Officer & President of Phoenix Solar Systems Inc. Paul Caudill comes to Phoenix Solar from SunPower Corporation, headquartered in San Jose, California, where he served successfully as the company\'s head of Global Systems Operations. Reporting to the President of the Global Utility and Power Plant Business Unit, he was directly responsible for proposal design and up-front sales and customer support, engineering, construction, commissioning and operation of larger-scale solar power plants in the United States, Canada and Europe. In 2009, he worked hand-in-hand with SunPower\'s sales and project development teams to successfully deliver on a number of significant solar plant contracts in both the United States and Europe, including a project of more than 25 MWp for a leading US utility in the State of Florida and a 24 MWp project for a privately-held developer in the Lazio region in Italy.

Prior to his work with SunPower, Paul Caudill held the position of Senior Vice-President, Operations for a US firm engaged in the production and distribution of fuel-grade ethanol. In this position, he managed the engineering, procurement, construction and operation of 16 large-scale plants and a team of over 900 direct employees.

Peter Beucke has joined Phoenix Solar Systems Inc. as Chief Operating Officer. Over the past two years, he has been responsible for the design and implementation of multi-megawatt photovoltaic power plants in the USA and Europe in the capacity of Director of Global Design and Engineering Services at SunPower Corporation. Prior to this, Peter Beucke was a Senior Vice President at Lennar Homes Bay Area Division. Mr. Beucke worked for twelve years at Lennar in various managerial positions, including the position of Senior Vice President of Sales and Marketing. He has more than 25 years of construction experience, is a licensed architect, licensed contractor and licensed real estate broker in the State of California.

Stated Paul Caudill, \"The United States represents a rapidly growing market for solar energy. Starting with installation of approximately 140 megawatt peak (MWp) in 2006, the US market grew to installations of nearly 485 MWp in 2009. Industry research analysts forecast market growth could rise to 850 MWp in 2010. In the nearer future, the US market is expected to replace Germany as the world\'s largest photovoltaic market.\"

California dominates the US photovoltaic market, with a market share of 54 percent in 2009. The State has set ambitious goals: by the year 2020 renewable energies are to make up 33 percent of the energy mix. US development incentives encouraging investment in large-scale photovoltaic projects include tax relief, or Investment Tax Credits, as well as in a growing number of renewable energy portfolio standards or quotas set at the State level.

\"We are delighted to be entering the promising US market backed by the experience of Paul Caudill and Peter Beucke\", commented Dr. Andreas Hänel, Chief Executive Officer of Phoenix Solar AG. \"Since it\'s founding in 1999, Phoenix Solar AG has gained more than 600 megawatts worth of experience in international project and trading. Following its start-up phase, which is likely to last until 2011, our US subsidiary is expected to make a major contribution to the revenues of the Phoenix Solar Group.\"

Paul Caudill responded: \"I am privileged to be given the opportunity of leading the expansion of Phoenix Solar\'s solar power plant development and fulfilment capabilities into the promising US market. The parent company has an outstanding reputation for delivery of high-quality solar power plants, an excellent leadership team and a strong employee-led culture. We intend to capitalize on these strengths as we move into California, to start off with, and then expand our service offerings into other leading solar States\".

Phoenix Solar will be exhibiting at the \"Solar Power International 2010\" in Los Angeles (West Hall, Stand 1151) in October.


About Phoenix Solar AG

Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic system integrator. With total revenues of EUR 473 million, the Group achieved an EBIT of EUR 12.2 million in the financial year 2009. The company develops, plans, builds and takes over the operation of large-scale photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic system technology. It focuses on the consistent lowering of system costs. With a sales network throughout Germany, and subsidiaries in Spain, Italy, Greece, France, Singapore, Oman, Australia and the United States of America, the Group currently has a workforce of more than 300 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange and on the TecDAX, Deutsche Börse AG\'s technology index.


Sulzemoos, 5 August 2010

Publication and Reprint free of charge; please send a specimen copy to Phoenix Solar AG.


Attention editorial offices: For further questions please contact Mrs. Andrea Wegner, Press & Public Relations Phoenix Solar AG.

Hirschbergstr. 8
D-85254 Sulzemoos
Tel: 08135-938-313
Fax: 08135-938-399
E-mail: a.wegner@phoenixsolar.de
Internet: http://www.phoenixsolar.de

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